Stonegate at Alvin

Asset Type


1277 Dickinson Rd Alvin, TX United States 77511-4093
Asking Price

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Sq Footage


Year Built


Cap Rate


Additional Attributes

Property Description

JLL Affordable Housing is pleased to present the exclusive listing of the Limited Partner Interest in the HFC Structure for Stonegate at Alvin, a LIHTC asset located in Alvin, TX. Located in the Houston MSA which is the 6th largest in the country with more than 7 million residents. Houston is home to 21 Fortune 500 companies, has over 3 million jobs and was the 3rd fastest growing MSA in the last decade. The investment opportunity includes a strong location in the Houston MSA, a 100% tax exemption, attractive assumable financing, strong amenities and an attractive value add component.

Investment Highlights

  • A 100% tax exemption affords potential buyers increased cash flow and removes the risk associated with an aggressive reassessment.
  • In April of 2019 the current owners closed on a HUD 223(f) refinance. The assumable loan features a low monthly payment relative to the leverage level due to attractive provisions including a 3.98% interest rate and a fully amortizing 35-year term.
  • ​​​​​​​Features amenities that are more than competitive with the submarket including a playground, gated access, clubhouse, basketball court and business center. The inside of the units features dishwashers, garbage disposals, microwaves, refrigerators and washer/dryer hook-ups.
  • The asset is currently 100% occupied with a waiting list on all unit types. This provides a potential buyer the opportunity to raise in place rents up to 15% to the max allowable and realize impressive double digit returns.
Listing Contacts
Michael Furrow
Michael Furrow
Associate, Capital Markets
+65 3159 4021
C.W. Early
Managing Director, Captl Mkts
+65 3159 4021
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